News

Bloomberg A somewhat obscure biotech company in Japan tanked, bringing down an entire index with it. Shares of SanBio Co. plunged 26 percent on Wednesday, the most since it went public in 2015, after the company said it failed to reach target for a traumatic brain injury medicine in its latest trial as post-stroke treatment. The 5.5 trillion yen ($50 ...

Bloomberg Malaysian wireless giant Axiata Group Bhd. is caught in a bind as it weighs whether to exit its decade-long investment in Singapore operator M1 Ltd. Axiata, M1’s biggest shareholder, has less than three weeks left to decide whether to tender its stock into a takeover offer valuing the target at $1.4 billion. The Malaysian company held a board meeting ...

Bloomberg India’s bid to protect its solar-equipment makers by imposing a safeguard duty on cheap, Chinese imports has failed, according to domestic manufacturers, who are campaigning for tougher measures. The country last year imposed a 25 percent tariff on solar cells and modules imported from China and Malaysia for two years. That has resulted in developers either stalling projects to ...

Bloomberg TransCanada Corp. hired RBC Capital Markets LLC to sell a stake in the Coastal GasLink project, which would supply a Royal Dutch Shell Plc-led gas-export terminal, as the pipeline faces mounting opposition. If TransCanada moves forward with the sale, joint venture partners in the C$6.2 billion ($4.7 billion) project could end up owning as much as 75 percent of ...

Bloomberg Euro-area economic confidence extended its worst losing streak in a decade at the start of 2019 as member states faced a variety of domestic frailties and trade uncertainties. The European Commission’s economic sentiment index dropped more than economists forecast in January, reaching the lowest in more than two years. Pessimism spread in industry, services and retail trade, while the ...

Bloomberg An endangered UK regulator is demanding that asset managers change the way they interact with investors under new rules that require funds to provide more information on their business culture. A key difference in the updated stewardship code from the Financial Reporting Council is that asset managers will have to report what they’ve actually done, rather than just their ...

Bloomberg UK lenders approved the fewest home loans in eight months in December and demand for unsecured debt remained subdued, Bank of England figures show. The slowdown reflects fears that Britain risks leaving the European Union without a deal, a scenario that could rock the property market. Consumer credit grew at its slowest annual pace in four years. UK mortgage ...

Bloomberg A new privacy bill proposed by Senator Marco Rubio, which would override more restrictive state laws, is winning support from a Washington-based technology trade group that counts Alphabet Inc.’s Google, Facebook Inc. and eBay Inc. as members. The Florida Republican’s legislation would impose a national privacy standard and supersede tougher data-protection regulations that will take effect in California in ...

ABU DHABI / WAM The Department of Health Abu Dhabi (DoH), launched its Artificial Intelligence (AI), Lab at Arab Health 2019. The AI Lab is a first-of-its-kind initiative in region, dedicated to developing healthcare solutions through emerging technologies including AI, Blockchain, genomics, predictive analytics and Internet of Medical Things, among others. Bringing together individuals, industry experts and service providers, the ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Tuesday, Sheikh Nasser bin Sabah Al-Ahmad Al-Sabah, First Deputy Prime Minister and Minister of Defence of Kuwait. His Highness welcomed Sheikh Nasser Al-Sabah, and held discussions on the brotherly relations between the ...